China's wealthiest village will be celebrating even greater prosperity this New Year after reporting record sales revenue of more than 40 billion yuan (5.1 billion US dollars).

Huaxi, which calls itself "China's No. 1 Village", saw revenues jump about 30 percent from last year due to the development of its metallurgical and textiles industries, said Wu Xie'en, head of the village.

The village in the eastern Jiangsu Province was expected to generate 50 billion yuan (6.4 billion US dollars) in sales revenue by 2010, Wu added.

It celebrated its 45th anniversary on Dec. 22 with festivities and a parade that attracted more than 100 Chinese and foreign journalists.

The parade began with 45 cows and 45 sheep to honor the diligence and perseverance that made a poor hamlet China's richest village, said Wu.

Villagers drove trucks loaded with metallurgical products to showcase their industry, followed by others wearing sandals and pushing wheelbarrows to remember the hardships they had undergone.

Founded on 30 square kilometers in 1961, Huaxi has developed into an affluent village with a population of 35,000. Every family has its own bank account, with deposits ranging from one million to ten million yuan.

The village receives an average of two million tourists from more than 120 countries and regions each year.

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